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Romeo Gestioni, a joint-stockcompany belonging to theRomeo Group founded in1979, is a market leader inreal estate and urbanproperty management anddevelopment. It stands outamong its key Europeancompetitors for havingcreated a business model thatis both innovative andintegrated of services for bothpublic and private Clients.The business activities ofRomeo Gestioni fall into fourmajor areas:? Property & Facility ? Integrated land and Management resources management integrated management of integrated management of services such as the services required for administration, technical and political management, planning and for the maintenance, as well as management of resources technical and functional and complex processes compliance and regulation relating to local areas. This of real estate portfolios, service is provided through provided in an exclusive the coordination and and unitary manner even synthesis of the various through the fields of operation and acknowledgement and through the introduction exercise of the rights and and application of know- duties enjoyed by and how instruments for the imposed on both owners analysis, representation and and users. management of resources.? Advisory & Asset ? Engineering and project Management management integrated management of integrated management of strategic advisory and the professional services technical assistance required for the working services required for the out and implementation of working out and ordinary and extraordinary implementation of property maintenance and reclamation, development development, including, if and purchase/sale of real necessary, any change of estate and urban property. use, town planning, technical and land registry regularization, feasibility and environmental impact studies, comprising preliminary, final and executive planning, as well as work management. The company’s history illustrates how Romeo Gestioni have broken new ground, becoming the most advanced and innovative services company. They have done so by being the first to identify new ways to modernize the market, thus being able to seize upon the best available opportunities. 5

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historyIn 1989, partly challenged by management of large public and in charge of Sales in thethe provocations of Romeo real estate portfolios was transactions of securitization ofImmobiliare, a young complemented by a new area the state-owned property.Neapolitan company then, of operations comprisingNaples’ municipal authorities strategic advisory services and Thanks to the services offeredtook the decision of entrusting operating management of for the planning, regulation anda specialized operator with the large-scale privatisation plans implementation of the Italianresponsibility of managing their for big real estate portfolios. State’s plan of privatization andreal estate portfolio. The aim securitization of its real estatewas to tackle and find a Italian law no. 140 approved in portfolio, the company hassolution to a number of 1997 provided in fact for the established itself as a leadercomplex problems which were, creation of a plan of disposal of even in this new market areato name just a few: the real estate owned by Italy’s that combines real estate,absence of a consistent social services for an overall finance and services.information framework about value of no less than 1,550the actual size of their portfolio, million euros. The full adherence to theits equipment, and the rights of Business Plan for the sale ofboth landlords and tenants; the Under the same law, Italy’s the SCIP 1 real estate bearsloss of credibility towards the Ministry of Labour and Social witness to the fact that at thetenants; the long delays in Security was authorised to avail root of the best propertymaintenance and the itself of the collaboration of a valuation there must always bedeterioration of property; the particularly experienced and the culture, expertise anduncertain and erratic ability of qualified consultant in the field competence of those whothe real estate portfolio to of real estate market and outline a plan takinggenerate value for the finance with the aim of responsibility for the resultscommunity. attaining the anticipated results achieved. as rapidly as possible.Romeo Gestioni was set up in Since September 2000, RomeoNaples on 26th June 1989, and With a tender launched at Gestioni has been the firstsoon proved to have the European level, the Ministry specialist firm operating in thenecessary skills and means to selected the G6 Advisor real estate services market thattake on the challenge posed by Consortium as its Qualified has acted as Single Managerthe city of Naples, using a Expert. Romeo Gestioni for the integrated managementmanagement and business promoted the Consortium and and maintenance service of amodel still unknown in Italy at was in charge from the start of large state-owned property:the time. the coordination of operations, the “Palazzo del Tesoro e delle besides having direct Finanze” (Treasury and FinanceSo unknown and innovative responsibility for services such Palace) in Rome, the main seatwas their model, in fact, that as reconnaissance, valuation, of the Ministry of the Economy.one would have to wait until regularisation and sale of the1992 for Europe, and 1995 for properties located in the Acting for the latter, RomeoItaly, for new regulations to be centre-south of Italy. In the Gestioni handled all theintroduced that provided for following years, the Consortium services provided to people, topublic real estate portfolios to then achieved, within all the various areas and to thebe contracted out to an deadlines, all the targets in palace itself, thanks to a singleexternal company that would terms of results expected by organization plan drawn up fortake care of their integrated the Italian Government. all levels of responsibility aimedmanagement. at restoring and maintaining A new avenue was opening up the utmost efficiency of theThe answers Romeo Gestioni and Romeo Gestioni knew how entire building-equipment-have been able to provide to to build and move along it organization system.meet the expectations of better than anyone else.Naples’ municipal authorities, As with every contract of thisthanks to a relationship that On 30 August 2001, the kind, the combined effort madehas gone from strength to Ministry of the Economy invited by the management companystrength over the past 20 a group of leading international and the Institutions that haveyears, have helped to establish banks to put forward an offer appointed it goes well beyonda management model even in for arranging the securitization the mere management andItaly that, overcoming the of the proceeds from the sale of provision of a range of services,traditional notion of pure state-owned real estate constantly exploring new wayspreservation of the real estate property (which will then be to optimise, innovate andportfolio by the internal called SCIP 1) which, in terms streamline all the procedures,organization, has progressed to of sheer size and complexity, services and maintenancethe idea that management of had no precedent in Europe. involved.processes and propertydevelopment should be The selected line-up of banks Such was the success enjoyedcontracted out. chose Romeo Gestioni as their by this first experiment Real Estate Consultants and the conducted at the “Palazzo delAs time went on, the Ministry of the Economy, Tesoro e delle Finanze” inexperience of Naples’ local entrusting them with the task Rome that in 2002 the Italianauthorities was later emulated of analysing and segmenting Government extended to allby other institutions (including, the portfolio, as well as working public administration offices theamong others, the Municipal out and validating a Business innovations introduced by theAuthorities in Rome, Venice, Plan to be put forward to rating integrated management of realMilan and Florence, but also agencies and international estate property and services,Italy’s social security services investors. following the convention modelsuch as INPDAP and INPS) for the purchase of services setand has become an essential Romeo Gestioni was later out in the financial act for thepart of the demand & supply asked by the owner bodies to year 2000 implementedsystem in the market of real take responsibility for the through Consip.estate services. implementation of the plan put forward and were the only Consip is a joint-stock companyStarting from 1997, the original company in the market to have owned by the Ministry of themission of integrated been involved both as advisors Economy and Finance that 11

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Once again, the company found itself at the cutting edge of innovation in the management and improvement of real estate administration services, and proved at the same time that it had the necessary skills to explore new avenues in service Basilicata, Apulia, Calabria, management, when in March Molise, Lazio and Sardinia lots. 2006, in its capacity as mandatory of a temporary In 2003, Italy’s State Property business combine (“RTI”), it Agency (the so-called ‘Agenzia promoted a Convention with del Demanio’) embarked upon a Consip for the integrated wide-ranging programme for management of the training operates, in the sole interest of the analysis and census of the and update relative to the road the Italian State, through entire public real estate in order registry for those public various instruments, one of to gain an in-depth knowledge administration bodies owning which is the framework contract of their current (legal, roads located in the following (Conventions) with which the administration, preservation) regions: Lazio, Abruzzo, Molise, Supplier Companies, selected state both in view of value Campania and Sardinia. on a competitive bidding basis enhancement and strategic among top national and management of the whole real The Road Registry is an overseas companies, undertake estate portfolio. inventory of all the roads for to supply, at certain set terms public use present on Italy’s and prices, the goods and Having won a tender, Romeo national territory and its services required by the single Gestioni managed to secure the purpose is to establish the size Administration bodies. management of the integrated of the country’s road network in survey and census service for a compatible manner and so as Through the development of the property owned by the to be integrated, in the the system based upon State located in such regions as medium/long term, with the Consip’s Conventions, the aim Lombardy and Trentino Alto- land & buildings registries. is not merely to recover Adige (Lot 2) and Campania, efficiency and recoup financial Abruzzo and Molise (Lot 7). The Registry contains all the resources. The ultimate data about the geometrical objective is to set in motion an The assets have very different characteristics of roads and administration machine capable characteristics, being a mixture relevant appurtenances, as well of becoming the very engine of built properties (from as all the permanent facilities behind a major change in both complex building blocks to and services connected with society and the market. single buildings, from residential road circulation requirements. property to accessory units), Such data represent the basic To change the manner in which urban areas and land, as well as information which all the other public administration interacts special properties such as types of information contained with the country’s private wooded areas, archaeological in the Road Information citizens and corporations - sites, sandy shores, mines, Systems must refer to (road through increasingly service- caves, etc. maps, traffic data, preservation oriented processes radically of art heritage, road surfacing transformed by the use of The service integrated the and complementary works, communication networks and activities of analysis and census environmental monitoring, new technologies - and to of the single properties with the signalling, etc.). break up with deeply-rooted design, development and patterns and procedures for the supply of the IT systems and Through the census and setting assignment of services are application software for the up of the information needed among the top objectives acquisition and management for the integrated management pursued by Consip for the of data. of the country’s road network rationalization of public and any related services (from expenditure. The experience conducted by safety to maintenance, from the Italian Government with economic development to Once again, Romeo Gestioni is the Global Service at the comfort), a new area of among those in the front line in “Palazzo del Tesoro e delle innovation opens up for the helping to reshape the market Finanze” and with the Consip services market: integrated of integrated process and Convention, together with the management of territory aimed service management and since special needs to rationalize the at enhancing any type of asset. 2002 has been providing its process of acquisition of goods expertise to the public and services and of resource The model of integrated administration offices located management, have led Italy’s management that Romeo has within the historical town center Presidency of the Council of applied to the properties can be of Rome and those in the Ministers to promote the successfully applied to any Campania, Basilicata, Apulia, establishment of a mixed other resource or process. Molise and Sardinia regions. public/private company - PCMS SpA - taking over responsibility Romeo’s clients are offered not Moreover, in February of 2008, for the integrated management only the simple provision of a the CONSIP Healthcare of acquisition processes and service (building maintenance Convention was activated, with management of services acting or road repair) but also the the objective of supplying an as a support for the various “central administration” of the integrated system of services Presidency facilities. entire management and for the management, improvement process, which administration, control and In January 2005, Romeo guarantees the overall result of execution of all of the activities Gestioni was selected by Italy’s stabilizing and optimizing the necessary for maintaining the Presidency of the Council of expected performances. efficiency of the technological Ministers, together with systems of the properties used partners Finmeccanica and Bain prevalently for healthcare & Company Italia, as private services for the Campania, shareholder of PCMS SpA.12

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Property Management and deriving from ordinary time. This is achieved throughFacility management are two accounting, relationships with the integrated and jointservice areas within the real managers, suppliers, public management of all theestate business which the bodies, authorities and activities required for themarket tends to keep as monitoring agencies, proper functioning of theseparate operations. Both insurance and fiscal property, keeping in closeareas, nevertheless, share the management of the contact with the needs ofsame characteristic of being a property…) and, last but not those who occupy and livereal estate service capable of least, to manage all the there day after day. There areintegrating into a single relevant technical activities several points of contact andoperating model any expertise, (management of property potential synergy between thetechnologies and management support services, standard two above-mentioned areas ofsystems which are traditionally maintenance, planning of operation, partly because theydistinct one from the other. extraordinary intervention, both require similar skills and relationship with suppliers and expertise and partly becauseProperty management companies). the boundary between them isencompasses many diverse at times fuzzy.activities that are required in Facility Management, on theorder to exercise, on behalf of contrary, consists of the Romeo Gestioni is the realthe Owners of a complex real coordination and execution of estate market leader becauseestate portfolio, all the rights all the activities needed to it has been the first toand duties arising of the maintain the buildings integrate the operatingrelationships with whoever perfectly efficient and systems of propertymakes use of the assets on a functional (management and management with those ofpayment basis. maintenance of the buildings facility management - and technological equipment, achieving the best resultsIf indeed it is the owners’ right fixed assets, utilities contracts, too - and to introduce anto choose the hygiene and cleaning services, innovative Property & Facilityindividual/company they are services catering for people Management model that todaygoing to assign the use of a and the organization) in favor the market calls ‘Globalproperty to and the rules to be of the organization that is Service for real estatefollowed in pursuing the using them. portfolios’. In other words, thiscontractual relationship over a means managing a contractset period of time, it is the The Facility Manager has designed to create Value byProperty Manager’s basically the task of ‘making integrating all theresponsibility to manage this everything fall into place more activities/services that mustrelationship, both to ensure it easily’, that is to say to turn be carried out on behalf ofalways complies with town the whole process of using a owners, with the two-foldplanning, land registry and complex real estate asset a objective of achieving the bestlocal regulations, and to deal less burdensome, more possible and most stablewith administration issues effective and more certain income and facilitating the use(management of cash flows exercise over a given period of of the property.

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The services with the highest of know-how they have been order to get to know,added value in the real estate able to acquire over many evaluate, regulate andmarket are those of advisory years of property portfolio express the potentialand technical assistance management and service development of the portfolioservices for the strategic provision. in terms of value. It goesmanagement of a portfolio much further than that and iscomprising either real estate Among the foundations of the the only one to do so on theassets or securities linked to advisory service Romeo market: it actually translatesthe performance of the real Gestioni is able to offer their all of these activities into aestate market. clients, a crucial role is played credible business plan whose by their in-depth knowledge results it is willing to takeSuch services are generally of the single items making up responsibility for.linked to investors’ need to the value of a property, theidentify the optimal ability to split each portfolio Viceversa, experience teachescomposition of their portfolios into its single basic items and that if one builds an abstractand to manage the same over to break down the various performance model to make aa set period of time in such a problems that may affect each finance or a property valuemanner as to achieve above- property asset. enhancement transactionaverage performance. This is It often happens, in fact, that credible, in the belief that onedone whenever the property management is can anyway find on theeffectiveness of asset adversely affected by a market an offer of servicesallocation is to be measured blurred vision of the property capable of turning it intonot in an abstract way, but in and its capacity for income reality according to the termsrelation to the economic, and/or improvement. foreseen, one either fails toasset or social target the achieve the performanceportfolio seeks to achieve. By the Owners of the property expected altogether or one needs to do something more does achieve it destroyingAdvisory & Asset Management than just simply collecting and value at the same time.activities broadly refer to the managing data. In order toidentification of: the value and maximize the value of the Romeo Gestioni has offeredearnings capability of the information gathered it is the market an advisory &entire portfolio and each essential to use it in order to asset management modelindividual property within it; get an idea in real time about based on threethe best disposal/acquisition what’s going on inside the characteristics, which thestrategies; projects for the properties, to identify trends, results achieved have provenoptimization of current to take decisions, based on to be highly effective: to seizemanagement or property more certain data, about upon their real estateenhancement; change of use future initiatives. expertise as an indispensablefor the property. precondition for the project of Romeo Gestioni, however, property value enhancement;In this market area, Romeo does not only provide a the real integration betweenGestioni is an operator ‘complementary’ service for real estate services andoffering advisory and support the Client to map out a portfolio enhancementservices, concentrating into a strategic and/or operating even through structuredsingle source of professional plan by gathering and storing finance transactions; theand integrated management information and by improving ability to take on the role ofall the diverse skills and levels its know-how and expertise in General Contractor.

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If services managementactivities for the preservationand valorization of a realestate asset (property &facility management) find anatural continuity andcomplementation in the so-called strategic assetmanagement services that callfor skills and resources able toassist and direct the owners(advisory & assetmanagement) in portfoliorepositioning transactions,acting as both a Consultantthat works with the Client and because of the subjectas a service company that management, but because itconcretely executes them, it becomes indispensable tois, however, clear that there unite and make twoare also other underlying potentially divergent aspectsaspects. coherent: the need to extract economic value (profit) from aReal estate services public asset on one hand, andmanagement can, in fact, only on the other, the importancebe one of the fields of of protecting (incurring costs)application for integrated and conserving the entrustedmanagement of complex resources over time.processes, especially forpublic administrations or large The instruments of knowledgeinstitutional investors who for an analysis andmore and more often are representation of the complexrequesting an integration that processes and resources ofgoes beyond the real estate the territory, and which needsGlobal Service. to be arranged in order to support the decisions, thusThe integration between take on a strategic role in apublic resources and private planning able to makeresources, but also the protection and developmentintegration of processes and come into play, starting aservices management, seem possible cross dialogueto be increasingly at the base between the variousof the development and institutions and partiesmodernization dynamics of involved.public action and of thoseprotecting public interests. Romeo Gestioni was the first in the real estate industry toManagement and promotion show that it could offer ancompanies; project financing; answer and that it hasreal estate finance applied to technologies and skills able toinfrastructures and to public deal with, in-depth and on aproperty; outsourcing broad spectrum, the meaningmanagement of government and strategic value ofservices for the territory are “integration logic” as ansome of the most common instrument that enablesexamples. the public-private relationship to be recovered and to orientIntegration logic not really the management of territorialand not solely as a cultural resources towards usageparadigm or as a reference for decisions and managementan abstract management models that are able tostrategy for the territory and increase the value and at thethe resources, but rather as same time sustain thean outline of a concrete competitive force of theorganization and services local economy.management model.Going beyond the boundary ofreal estate and the relatedservices raises, however, thecomplexity level of theservices managed, not really

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Right from the time of its applications offered byincorporation Romeo Gestioni technologies for thehas dedicated special transformation andattention and investments to management of process todesign and development of achieve enhanced satisfactionthe information technologies of its Clients’ needs.necessary to accomplish, onan industrial scale, Following this indispensablemanagement of the assets approach of data integrationentrusted to it: property and integration ofportfolios, complex rationalisation and provisionorganisations and processes, of services, Romeo Gestionidatabanks and information has designed, produced andbases, and projects and jobs, developed the TIGERboth complex and simple. information system. Today this is the benchmark for theThe philosophy followed is property services industryexactly the same as and and is the synthesis of theconsistent with the approach experience built up in over 15followed by Romeo Gestioni years of complex facilityfor all services provided to management.the market, i.e. integration injust one technological tool of TIGER is the operating baseall the various technical, of the Romeo System andregulatory, administrative confirms the company’sand/or accounting aspects ability to preserve the best ofthat gradually transform the traditional values whilst atobject managed and its the same time riding the tigercombination of relations. of technological innovation.Besides requiring constant TIGER is an informationupgrading of the IT tool to system consisting of a set ofadapt it to changing needs, tightly integrated modulesthe integration of operating (macro-functions) and sub-data and activities also modules that are flexibly ablerequires exceptional attention to work autonomously and toto technologies’ ability to adapt to the widest possiblemanage integration (but also range of different needs.correlation and intersection)of two primary areas, i.e. (i) Thanks to its particularlyrationalisation of processes skilled in-house resourcesguiding IT development and to an extensive network(which necessarily considers of expert consultants, Romeothe matter in a detached Gestioni provides constantmanner) and (ii) the process enhancement and upgradingof provision of services of procedures, and of(which instead participates in software modules and sub-problems). modules, according to changes in the market and inBecause of this, every day a Client requirements. It alsocore part of Romeo Gestioni’s steadily adapts to emergingactivities is the constant and technological standards andintelligent quest for the best to the most innovative

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informationsystemssoftware design and capabilities in terms ofdevelopment techniques, and storage and output oftherefore the TIGER is information.exceptionally reliable andeasy to maintain. The procedures created via use of the latest generationThe nature and performance of technologies are based onof the operating technologies a relational databaseused by Romeo Gestioni can management system (DBMS)be summarised in four key and permit man-machinewords: interaction in the Web environment.· Openness: TIGER is a modular system, internally The information system’s segmented by problem and production is based on the capable of being externally following technological segmented to increase its specifications: ability to meet the Client’s · application of CASE needs on a tailor-made (Computer-Aided System basis and adapt to them Engineering) and UML fast and accurately technology for software development and· Reporting: TIGER’s production; flexibility means that it is · adoption of 4th-generation possible at all times to and objects languages; have a full picture of · Client/Server, Network information inputted and Computing Architecture classified thanks to its (NCA), Web-based system application designed to architecture; accelerate the construction · 10G RDBMS Oracle of summary documents or Database; to report on status to the · Unix Server, Microsoft Client’s management team Windows Server, Linux Enterprise Server as server· Synthesis: the multitude technology platform; of information not only has · Microsoft Windows to be catalogued but also 98/2000/XP client intelligently managed. technology platform; TIGER is able to generate · Oracle Designer and rationally ranked clusters JDeveloper - for UML of events able to provide design - as system design an immediate overview of environment; the general picture before · Oracle Developer Suite and going into the detail of Oracle JDeveloper. individual events TIGER is compliant with the· Reliability: TIGER is a Italian Public Function system featuring high fault Ministry’s directives tolerance and because of concerning information this makes operators technology supplies to the confident in management Italian Public Administration of its outputs and creates and with quality standard great trust in its storage UNI-EN-ISO 9001. TIGER is a registered mark of Romeo Gestioni S.p.A. 57

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The professional experiences previously outlined are notLe esperienze fin qui descritte the only ones on the longnon esauriscono le molte path traveled by Romeotappe del lungo percorso Gestioni.professionale effettuato dalla Until now we have notRomeo Gestioni. Non si è mentioned the many otherdetto di molte altre sfide challenges successfully met.affrontate e vinte. Per The following list is in additionesempio queste, che si sono to the many success storiesrisolte in altre storie di for Romeo Gestioni on thesuccesso sul mercato italiano. Italian market.